When the world is in turmoil, investors have usually had one automatic response: Put money into dollars, viewed as the global safe harbor.
But that’s not happening in this tumultuous year. Even with the Middle East in conflict, Japan in disarray after a series of disasters and Europe facing a debt crisis, the dollar has been gradually falling in value against other major currencies. Having fallen relative to the euro, pound and yen in recent months, the dollar is down 7 percent against a basket of six major currencies since Jan. 7 and 14 percent since June.
Monday, 28 March 2011